Incentives, Investigations and the Growing Distrust Of Real Estate Campaign Donations
RFI Policy Director Alisa Kaplan was quoted in this article.
Via – Bisnow
Development, politics and money have been cozy for decades, but Amazon’s decision to pull HQ2 out of New York was a stunning reversal after unprecedented public backlash. If ever there was a time for such a response to become a nationwide trend, it might now be at hand.
The city governments of Los Angeles, Chicago and Philadelphia are reeling amid ongoing FBI investigations. Their counterparts in New York and Atlanta are grappling with public sentiment rising against the standard practice of exchanging tax breaks for development.
For years, money has flowed easily between developers and local politicians’ election campaigns, and in many cases was sent right back in the form of real estate deals. In the wake of the HQ2 fiasco in Long Island City, that status quo is in danger of being upended.